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Property profile & analytics
OFF-MARKET
Estimated value
$2,585,000
Retail space
462 Highland Ave Salem, MA 01970-1765
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US38-0773302
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1984
Construction
STEEL FRAME
Total area
3,944 SF
Lot
0.57 ac (24,908 SF)
Zoning code
B2
APN
SALE M:03 L:0002
UPID
US38-0773302
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Insa Cannabis Dispensary - Salem (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.67M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.59M
Owner & transaction history
Third Edsons RT · 2 yrs held
Third Edsons RT
since 2023
Last sale
$2.5M
4 recorded transactions
Zoning & alternative use
B2 · Salem, MA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,780,000
ML approach
$2,665,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.59M
Range $2.33M – $2.84M · ±10% · vs last sale $2.45M (Sep 20 2023)
Last sale anchor
$2.45M
Sep 20 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$655 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$29,968
Tax year 2024
Assessed value
$1,265,000
Assessed 2024
Previous assessed
$1,265,000
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$793,100
Assessed improvement
$471,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1984
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
3,944 SF
Lot
0.57 ac (24,908 SF)
Zoning code
B2
APN
SALE M:03 L:0002
UPID
US38-0773302
Jurisdiction
SALEM
Metro division
ESSEX COUNTY, MA METROPOLITAN DIVISION
Zoning & alternative use
B2 · Salem, MA
Zoning B2 · permitted uses
B2 · Salem, MA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salem. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1984
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
Third Edsons RT
Individual
Mailing address
462 HIGHLAND AVE, SALEM, MA 01970-1765
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 20, 2023
$2,450,000
Third Edsons RT
Blue Park Management LLC
Quit Claim Arm's Length For Ne States
—
Jan 24, 2019
$1,200,000
Blue Pk Mgmt LLC
Dont Ask About Plane
Quit Claim Deed
—
Sep 19, 2013
—
Dont Ask About Plane RT
Sudenfield,paul A
Quit Claim Deed
related
—
Jun 2, 1987
—
Paul A Sudenfield
—
Deed Of Trust
related
$185,000 · Century No Shore B&t
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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